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§ 23-402. Notice of intent to cancel insurance contract

West's Annotated Code of MarylandInsuranceEffective: October 1, 2011

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 23. Premium Financing
Subtitle 4. Cancellation of Insurance Contract Under Power of Attorney (Refs & Annos)
Effective: October 1, 2011
MD Code, Insurance, § 23-402
§ 23-402. Notice of intent to cancel insurance contract
In general
(a) At least 10 days before canceling an insurance contract, a premium finance company shall deliver or mail to the insured written notice of intent to cancel the insurance contract unless the defaulted installment payment is received within the 10-day notice period.
Automotive liability insurance contracts
(b) For an automobile liability insurance contract, the notice of intent to cancel shall include a statement in clear and specific terms that if the insured fails to replace the automobile liability insurance within the 10-day notice period, § 17-106 of the Transportation Article provides that uninsured motorist penalties be assessed and that all evidences of registration be surrendered to the Motor Vehicle Administration and that failure to surrender the evidences of registration may result in suspension of current and future registration privileges.
Cancellation date
(c) The cancellation of an insurance contract on the date stated in a notice of intent to cancel or a notice of cancellation is not superseded by a premium finance company's issuance of a subsequent notice of intent to cancel sent under this section or a notice of cancellation sent under § 23-403 of this subtitle.

Credits

Added by Acts 1996, c. 11, § 1, eff. Oct. 1, 1997. Amended by Acts 1997, c. 708, § 1, eff. Oct. 1, 1997; Acts 2006, c. 194, § 1, eff. Oct. 1, 2006.
Formerly Art. 48A, § 486G.
MD Code, Insurance, § 23-402, MD INSURANCE § 23-402
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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